MAJOR BITCOIN FALL - $79XX - $80XX
Several fibs in regions marked in red. An ABC structure for the current ongoing 4th wave (correction). The c of this 4th is split into an abcde triangle.
e of the c should overshoot in the junction wherein the 'e' of the larger contracting triangle (marked) corresponds to the future (marked in miniscule) 'e' of the c wave. 79xx to 80xx is HEAVY resistance.
Price should fall BEFORE the arrow marked, made due to less space.
Ideal target for wave 5 is $3780 (previous major low), but assuming one exits on some smaller subwave, the marked region is a conservative target. Heavy RR, enjoy
e of the c should overshoot in the junction wherein the 'e' of the larger contracting triangle (marked) corresponds to the future (marked in miniscule) 'e' of the c wave. 79xx to 80xx is HEAVY resistance.
Price should fall BEFORE the arrow marked, made due to less space.
Ideal target for wave 5 is $3780 (previous major low), but assuming one exits on some smaller subwave, the marked region is a conservative target. Heavy RR, enjoy
Note
Price has hit the level, but indicators are all very bullish. No strong reaction at the fib level either. Not short yet
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.